Krane Funds Advisors LLC raised its stake in 58.com Inc (NYSE:WUBA) by 8.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 1,236,156 shares of the information services provider’s stock after acquiring an additional 98,123 shares during the quarter. 58.com accounts for about 4.8% of Krane Funds Advisors LLC’s portfolio, making the stock its 9th largest position. Krane Funds Advisors LLC’s holdings in 58.com were worth $81,191,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its position in shares of 58.com by 433.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,194 shares of the information services provider’s stock worth $64,000 after acquiring an additional 970 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in shares of 58.com during the fourth quarter worth about $210,000. Fox Run Management L.L.C. purchased a new stake in shares of 58.com during the fourth quarter worth about $239,000. Pictet & Cie Europe SA purchased a new stake in shares of 58.com during the first quarter worth about $263,000. Finally, Virtu Financial LLC purchased a new stake in shares of 58.com during the fourth quarter worth about $264,000. 60.44% of the stock is currently owned by institutional investors.
A number of brokerages have recently issued reports on WUBA. Zacks Investment Research raised 58.com from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 4th. Deutsche Bank assumed coverage on 58.com in a research note on Wednesday, March 27th. They issued a “hold” rating for the company. Benchmark reiterated a “buy” rating and issued a $83.00 price target (down from $85.00) on shares of 58.com in a research note on Monday, March 4th. Credit Suisse Group set a $84.00 price target on 58.com and gave the stock a “buy” rating in a research note on Friday, March 1st. Finally, Macquarie downgraded 58.com from an “outperform” rating to a “neutral” rating in a research note on Friday, March 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $69.00.
58.com (NYSE:WUBA) last posted its quarterly earnings results on Thursday, February 28th. The information services provider reported $0.40 EPS for the quarter. The business had revenue of $525.89 million during the quarter, compared to the consensus estimate of $519.09 million. 58.com had a return on equity of 9.30% and a net margin of 15.11%. The company’s revenue for the quarter was up 24.3% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. As a group, analysts expect that 58.com Inc will post 2.12 earnings per share for the current fiscal year.
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58.com Company Profile
58.com Inc engages in the operation of online classifieds and listing platforms. Its businesses include include Zhuan Zhua, an online used good trading platform; 58 Home, an online home and moving services platform; Che Hao Duo, an online used and new car trading platform which contains Guazi, the used car platform; and Mao Dou, the new car platform.
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